The CoreWeave Doom Spiral
At the lows on Thursday, CoreWeave was down more than 25% since the beginning of
A Wholesale, Effing Disaster
The renewed surge in energy costs, and particularly the vertical inflection for fuel prices, showed
AI Trade Bleeds Out As TSMC, Anthropic Updates Are Damp Squib
On the surface anyway, things are going fine. Just ask Taiwan Semi CFO Wendell Huang,
Mind The Control Group!
Not that you were going to, but take no solace in Thursday’s ostensible “beat” for
Cloudy With A Chance Of Zero
“Yikes.” That was my reaction to Wednesday’s US CPI report, which showed inflation across the
Yikes! Big Inflation Overshoot Upends Fed’s ‘Patience’ Message
Underlying inflation in the US ran hotter than expected last month, Wednesday’s update from the
China Still Not Tired Of ‘Winning’ On Trade
Are they “tired of winning” yet? China, I mean. Apparently not. Xi Jinping’s now guaranteed
BofA Hit By Fine, Trading Slump. Wealth, Equities Shine At Morgan Stanley
Bank of America on Wednesday reported results that fell short of consensus on both the
The Chips Are Down Again
Remember CXMT? If not, don’t worry: I didn’t either. I had to use my own
They Want 6%, Scott
6%. On 10s. That’s what it’s gonna take to tempt professional capital allocators to rotate
Meanwhile, At Goldman: More, More, More
To say Goldman’s stock traders have had a good 2026 would be an understatement, and
JPMorgan Results Are Decent Enough
The House of Dimon reported earnings that missed estimates on Tuesday. That’s not something you
Can I Interest You In This Fine $400K Wooden Box?
After three straight months of declines, and despite a steep increase in financing costs, the
Old, Rich, White People
Getting old generally sucks. I don’t think that point’s debatable. Sure, any one person’s lived
Still Cashing In
There’s a lot of cash on the proverbial sidelines. Still. There’s still a lot of
Imaginary Ceasefire
Over the weekend, Donald Trump declared an “energy ceasefire” in the Russia-Ukraine war. The moratorium
Balloon Animals
Recent Fedspeak, where that means heavyweights John Williams and Philip Jefferson leveraging public speaking engagements
Saudi Arabia’s Deadly Day May Pull Trump Into Yemen War
The Houthis are inviting a US military intervention in Yemen. On Saturday, at least a
Who’s Afraid Of The Big, Bad Unknown?
One of my least favorite charts was back in the news this week. Plotting any
Closed Committee
Back in June, I went out of my way to emphasize that the Supreme Court’s
Trump Breaks His Own Macro Misery Record
In this week’s macro preview, I wrote that the only question around the preliminary read
Weekly: Are Stocks Really Whistling Past The Graveyard?
Yes, the S&P managed to post a new record close (the first since August 13
Maricarmen, Le Pen And The Great Fiscal Reckoning
María del Carmen Abascal, the disabled 87-year-old who became the face of Spain’s housing affordability
Bombs, Brent And Breakevens
“A whole civilization will die tonight.” Or maybe tomorrow night. Sometime before the midterms. Maybe
US Jobless Claims Set To Make History. Again.
Anybody care about US jobless claims? Not really? Well, I can’t blame you. The release
Halle-freakin’-lujah
It goes like this, the fourth, the fifth The minor fall, the major lift… Hallelujah.
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